# 28 Surplus from life insurance business, how to be utilised
1[28. Surplus from life insurance business, how to be utilised.--(1) If as a result of any investigation undertaken by the Corporation under section 26, any surplus emerges,--
(a) ninety per cent. or more such surplus, as the Central Government may approve, shall be allocated to or reserved for the life insurance policyholders of the Corporation;
(b) such percentage of remaining surplus as the Central Government may approve shall be credited to separate account maintained by the Corporation; and
(c) the remainder shall be paid as dividend.
(2) The funds available in the account maintained by the Corporation under clause (b) of sub-section (1) shall be utilised for such purpose and in such manner as the Central Government may determine.]
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1. Subs. by Act 8 of 2012, s. 5, for section 28 (w.e.f. 31-3-2012).
